Place bets are the best introduction to racing as they do not require one to select a winner every time. In this place betting guide by AustralianBettingSites, we will show you how it actually works, when it pays out and some tactics to follow.
Place Bets Guide
Place Bets Explained
Want to bet on a horse to finish in the first three via betting apps or sites in Australia? One of the simplest and punter friendly bet types is place betting. All you require is to have your horse or dog place 1st, 2nd or even 3rd in the race and you win - that is most simple place bet meaning explanation.
Note: In smaller horse racing fields:
- 5-7 runners: place pays 1st and 2nd.
- 4 or fewer runners: no place bet available.
Place Betting Strategies
Although place bets are pretty simple to get, experienced punters often apply these strategies when choosing them at new betting sites and established ones as well:
- Longshot Place Bet: Back roughies you believe can sneak into the top 3 for a bigger return than short-priced place odds. Usually works well in Greyhound betting since it’s unpredictable.
- Favourites as Safe Plays: Place betting on hot favourites offers a low return but a high strike rate. Ideally used in Melbourne Cup tips.
- Place Multis: Link multiple place bets across races for a bigger place bet payout. A low-risk way to build value. Similar to Tennis betting and putting Tennis players in a multi bet.
- Track Bias Advantage: Use track patterns to pick runners likely to run in the first three. Especially helpful on wet days. Sort of like how wet conditions can impact AFL tips and NRL tips.
- Form + Map Combo: Horse racing tips will usually suggest combining horses in form with those likely to settle on pace or get clear runs in the straight.
Examples of Place Bets
Place bets should be easy to comprehend for most and the following section will give you brief instructions on how they are put into use in actual betting scenarios, including fixed place bet meaning.
| Bet Type | How It Works | Example Bet | Winning Bet | Losing Bet |
| Standard Place | Your horse must finish 1st, 2nd, or 3rd | Bet on Horse 6 to Place | Horse finishes 2nd | Horse finishes 4th or worse |
| Fixed Odds Place | Pays a locked-in price when you bet | Bet $10 on Horse 2 at $2.20 | Return = $22 | Horse runs 4th or worse |
| Tote Place | Pays out based on the pool and final dividends | Bet $10 on Horse 8 via Tote | Paid at declared dividend | No payout if horse runs outside top 3 |
| Each Way (Win + Place) | Two bets in one: win + place | Bet $10 EW on Horse 3 ($1.50 P) | Place = $15 return | Lose both bets if outside top 3 |
Place Bet vs Win Bet
Want to bet your horse to win or to place? This is a simple overview that will assist you in getting the main differences between a win bet and a place bet. You can also usually find betting bonuses at sites and apps around the country using these bet types.
| Bet Type | How It Works | Example Bet | Winning Bet | Losing Bet |
| Place | Horse must run top 3 (field size rules) | Bet on Horse 9 to Place | Horse finishes 3rd | Horse runs 4th or worse |
| Win | Horse must finish 1st only | Bet on Horse 9 to Win | Horse finishes 1st | 2nd or 3rd = no payout |
Which Should You Choose?
- Choose a place bet if you want consistency and more frequent payouts.
- Go the win if you're chasing higher returns at betting sites and confident in the horse.
Place Bet Tips
Horse Racing Tips and Best Bets 14/07/25
Let’s get the week started the right way, with some winners! Our horse racing tips have arrived for today, Monday, July 14.
FAQs
What is a place bet in Australia?
A place bet horse racing is one whereby you have a horse placed in the top 2 or 3 (depending on the size of the field).
What does Place mean in horse racing?
It means that your horse needs to finish 1st, 2nd or 3rd (or 1st/2nd in small fields).
How does Place betting work?
You only win when your horse comes in one of the place positions, not necessarily first.
What is an example of a Place Bet?
A 10-dollar bet on a horse with place odds of $2.50 pays $25 dollars in case it comes in the first 3 positions.
How many horses are needed for a Place Bet?
There must be at least 5 runners, and full place payouts will apply on 8+ runners.
Are Place Bets worth it?
Yes, they are more reliable in terms of returns, particularly with long-odds horses.
Is it better to bet Win or Place?
Win bets are worth more money but place bets win more frequently it is a matter of your risk factor.
Is it better to bet Each Way or Place?
Every method is appropriate with horses that you believe can win; place is preferable when a top 3 finish is more probable.
What are the benefits of Place Betting?
Place bets are less risky, provide constant winnings, and are appropriate for novice and experienced punters.
Matt is a sports and racing writer who has been working in the field since 2016. He has provided betting tips for some of the biggest companies in the market, including Sportsbet, William Hill, PlayUp, and Betr, across a range of sports such as AFL, NRL, NBA, NFL, BBL, MLB, and Horse Racing. He is a serious participant in horse racing as a race horse owner with Viva Racing and a close associate of thoroughbredsales.com.au, the leading racehorse directory in Australia. His betting strategy focuses on identifying trends and using them to generate the best possible tips or advice.
